Cap. 204 Art. 23Collection of statisticalandother information.

(1) Without prejudice to the functions of the Bank to collect statistical information under the Treaties and the Statute and any legal acts issued thereunder, and without prejudice to the provisions of article 36(2), the Bank may require any person in general or any entity which is licensed, authorised or registered by a competent authority, any branch of a foreign legal person, or any other person or entity, as may be determined by the Bank, to provide the Bank with such statistical and other information as the

Bank may consider necessary to carry out its functions under this Act or any other Act, including in relation to its macro-prudential policy function, and the Bank may enquire into and ask for clarifications of any information so provided:

Provided that the Bank may provide any person, as described in sub-article (1), with statistical and other information as the Bank may consider necessary to carry out its functions under this Act or any other Act.

(2) It shall be the duty of every person or entity required to provide the Bank with statistical and other information to comply with such requirement, without invoking any professional or other secrecy restrictions.

(3) The Bank may issue directives providing for the definition and imposition of reporting requirements, establishing the standards for transmission and accuracy of statistical and other information, the safeguards to be in place and the conditions under which the right to verify or to carry out the compulsory collection of statistical and other information may be exercised under the provisions of sub-articles (1) and (4).

(4) The Bank shall have the right to verify the accuracy and quality of statistical and other information submitted under this article, and to carry out its compulsory collection. The right to verify statistical and other information or to carry out its compulsory collection shall comprise the right to:

(a) require submission of documents;

(b) examine the books and records of the persons or entities referred to in sub-article (1);

(c) take copies or extracts from such books and records; and

(d) obtain written or oral explanations. Any reference to documents, books or records under this article includes a reference to the electronic form of any such documents, books or records.

(5) Except as provided for under Part VIII and Part IX of this Act, information collected under the provisions of this article shall be subject to professional secrecy.

(6) When it deems it necessary in the carrying out of its tasks under this Act and any other Act, the Bank shall prepare and publish statements, consolidating and, or aggregating statistical and other information so furnished under this article and, where necessary, under article 36(1).

(7) The duty of any public authority to consult the National Statistics Office under article 39(2) of the Malta Statistics Authority Act when it undertakes activities with statistical implications shall not apply to the Bank in relation to the execution of its functions under this Act.